Median Home Price In Detroit: $7,500

Everyone knows that Detroit
is screwed six ways from Saturday, but that doesn't mean you
can't still be shocked. For example, abandoned buildings with
plants growing in them are shocking no matter what. And learning
that the median home price is $7,500, according
to this
Chicago Tribune article, is still pretty eye-popping. To put
that in perspective, it's the same amount that
AIG lost every second of the day in Q4.

We're curious, can you even get a mortgage for a house like that?
Could Clusterstock go there, put $1,500 down, and stretch the
remaining $6,000 over the course of a 30-year loan? Cause if so,
that's a pretty good time horizon for the city's eventual
turnaround as a green tech mecca.

Other amusing tid-bits in the article include the various
candidates for mayor and their ideas to fix the city. They
include: "Bulldoze large parts of the city and turn them into
windfarms", "grow your own food", and the best one: "procreate
like there's no tomorrow."

*Disclosure: The author was born in Detroit and hopes to see the
city turn around.